Unclear divorce agreements can lead to subsequent problems

On behalf of Treneff Cozza Law, LLC posted in Divorce on Thursday, January 19, 2017.

Ohio couples who have decided to divorce have many decisions to make, and most of them come down to money. The division of assets and other financial decisions can get confusing if there is no clear arrangement made at the outset. A state senator re-elected in another jurisdiction chose not to be sworn in so that he could be nominated by the General Assembly for Chief State Auditor. It turns out he is facing his own financial drawbacks that he says are a result of misunderstandings between his ex-wife and him regarding the terms of their divorce settlement.

Nearly six months ago, the man's ex-wife filed a motion after she claimed he was over $4,000 behind regarding tuition and expense payments for their two children. By the next month, they apparently reached a detailed financial agreement, including a monthly amount to pay off the outstanding debt. The man stresses these payments are over and above child support, which is and has been paid on time each month.

While the ex-wife is said to receive $150 each week for child support, she pays alimony in the amount of $250 per week. It turns out that she makes approximately three times more in her role as a clinical psychologist than his $40,000 yearly senatorial salary. He is also the owner of a mobile communications store, but the income he receives from it is not significant. He feels despite his temporary personal financial problems, he is the right person for the impending nomination.

This situation is a prime example that a divorce settlement needs to be thoroughly scrutinized before it is signed by both parties and submitted to the court. When the parties are having a difficult time agreeing on the particulars, it sometimes helps to have an unbiased third party help them reach a settlement by which they both can abide. Each state has its own specific laws and an Ohio attorney will be able to assist those who have questions regarding applicable laws in this jurisdiction.

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